Posted On: 2020-01-02
Rapid increase in generation capacity and initiative to provide last mile sustainable connection to electricity along with financial and operational reforms to increase the overall efficiency of discom are anticipated to supplement the growth of power and distribution transformer industry in India– 6Wresearch.
As a result of achievement from UDAY and various other discom schemes, there has been a significant acceleration of infrastructural development which has led to a surge in demand for transformers in the country. Transformers remain a crucial part of the power sector further as India continues its effort to provide sustainable electricity solution in the rural part of the country the demand for distribution transformers is likely to see a continuous increase as these types of transformers remain crucial for rural electrification. Infrastructure development, such as that of hotels, stadiums, offices and recreational facilities along with the strengthening of distribution and transmission network in a bid to reduce the T&D losses would open up new avenues for the transformers industry in India.
According to 6Wresearch, India Power And Distribution Transformers Market size is projected to grow at a CAGR of 3.0% during 2019-25. Government initiatives to rapidly increase the electrification rate in the past through initiatives such as Saubhagya, DDUGJY have given a massive boost to the application of transformers in the nation. Further, as government now shift its aims towards better distribution and sustainability the trend is likely to continue in the forecast period. Rapid rate of industrialisation and urbanization have significantly boosted the demand for greater power generation and distribution. As the country plans to strengthen the domestic manufacturing industry through initiatives such as Make in India the industrial demand for transformers is anticipated to see a continued growth over the forecast period.
According to Chhavi Malpni, Assistant Manager, 6Wresearch, “The power utility segments hold the maximum revenue share, by verticals, due to the rapidly rising rate of electrification as well as rapidly increasing power generation capacity especially in the area of renewable power segment. As India, continues to reduce its dependence of traditional sources of energy she has been witnessing a constant rise in number of solar parks and wind farms which has opened up new avenues for the application of power and distribution transformation.
According to Sahil Sharma, Research Associate, 6Wresearch, “Amongst region western India would continue to dominate the revenue share in the coming years owing to widespread application due to upcoming power projects such as Vidarbha Industries Power Ltd 300MW power plant in Nagpur and Adani power 3 x 660 MW power plant in Gondia. Further government initiatives to provide sustained power solution under 24X7 power of all scheme are likely to boost the prospect for application of power and distribution as T&D losses remain high in the region”
Some of the major companies in India power and distribution transformer market include BHEL, Voltamp, Transformers and Rectifiers, Crompton Greaves.
"India power and distribution transformers market (2019-2025)" provides an in-depth analysis with 59 figures covered in 127 pages. The report estimates and forecasts the overall India power and distribution transformer market by type, rating, region, Colling system, application, fuel type. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.